MCQs For NCERT Class 11 Business Studies Chapter 11 International Business

Please refer to the MCQ Questions for Class 11 Business Studies Chapter 11 International Business with Answers. The following International Business Class 11 Business Studies MCQ Questions have been designed based on the latest syllabus and examination pattern for Class 11. Our experts have designed MCQ Questions for Class 11 Business Studies with Answers for all chapters in your NCERT Class 11 Business Studies book.

International Business Class 11 MCQ Questions with Answers

See below International Business Class 11 Business Studies MCQ Questions, solve the questions and compare your answers with the solutions provided below.

Question. ……………… is the payment method most often used in International Trade which offers the exporter best assurance of being paid for the products sold internationally.
(a) Bill of Lading
(b) Letter of Credit
(c) Open Account
(d) Drafts

Question. The —————- company produces, markets, invests and operates across the world
(a) Global
(b) International
(c) Transnational
(d) Multinational

Question. Which one of the following is not a document related to fulfilling the customs formalities
(a) Letter of insurance
(b) Shipping bill
(c) Export license
(d) Proforma invoice

Question. Which one of the following modes of entry requires higher level of risks?
(a) Licensing
(b) Contract manufacturing
(c) Franchising
(d) Joint venture

Question. The first phase of globalization started around 1870 and ended with _______.
(a) World War I
(b) World War II
(c) The Establishment of GATT
(d) In 1913 when GDP was high

Question. Which one of the following modes of entry permits greater degree of control over overseas operations?
(a) Licensing/franchising
(b) Wholly owned subsidiary
(c) Contract manufacturing
(d) Joint venture

Question. Which one of the following is not amongst India’s major import items?
(a) Ayurvedic medicines
(b) Oil and petroleum products
(c) Pearls and precious stones
(d) Machinery

Question. ______ is the application of knowledge which redefines the boundaries of global business.
(a) Cultural Values
(b) Society
(c) Technology
(d) Economy

Question. ………………… is the application of knowledge which redefines the boundaries of global business
(a) Cultural Values
(b) Society
(c) Technology
(d) Economy

Question. Which option is not a business activity?
(a) Production of goods
(b) Transportation
(c) Exchange of goods
(d) Work in a factory for wages

Question. W.T.O is the only organization dealing with the:
(a) Home trade rules
(b) Entrepot trade rules
(c) Global trade rules
(d) None of the above

Question. In which business, the support service activities are categorized?
(a) Commercial industries
(b) Primary industries
(c) Secondary industries
(d) Tertiary industries

Question. Which of the following does not belong to the World Bank group?
(a) IBRD
(b) IDA
(c) MIGA
(d) IMF

Question. Which one of the following is not amongst India’s major trading partners?
(a) USA
(b) UK
(c) Germany
(d) New Zealand

Question. Globalization refers to ______.
(a) Lower incomes worldwide
(b) Less foreign trade and investment
(c) Global warming and their effects
(d) A more integrated and interdependent world

Question. The headquarters of the World Trade Organization is located at
(a) United States
(b) United Kingdom
(c) Geneva, Switzerland
(d) India

Question. Performa Invoice is issued by the-
(a) Shipping company of importer
(b) Exporter to importer
(c) Importer to exporter
(d) Exporter to the shipping company

Question. Labour productivity and production cost differ among nations due to ——— —
(a) Geographical reason
(b) Agricultural reason
(c) Personal reason
(d) Government policies

Question. In which state export processing zone are not set up?
(a) Kerla
(b) Gujarat
(c) West Bengal
(d) Rajasthan

Question. Which of the following document is required in connection with an import transaction?
(a) Certificate of origin.
(b) Shipping Bill
(c) Letter of credit.
(d) Mate’s receipt.

Question. Identify the alternative which is not the objective of World Trade Organization.
(a) To ensure reduction of tariffs and other trade barriers imposed by different countries.
(b) To facilitate the optimal use of the world’s resources for sustainable development.
(c) To promote an integrated and more viable and durable trading system.
(d) To promote an orderly international monetary system

Question. Name of the document that contain detail as to the quality, grade, design, size etc.
(a) Proforma invoice
(b) Purchase invoice
(c) Sale invoice
(d) Voucher

Fill in the blanks:

Question. Those document sent by the exporter to the importer for informing about shipment of goods is known as ___________.

Question. The fundamental reason behind International business is that the countries cannot produce ___________ or ___________ all that they need.

Question. A proforma invoice is a document that contains details as to the ___________ and ___________ of the export product. 

Question. In ___________ business both buyers and sellers are from the same country.

Question. Major documents needed in connection with export trade are documents related to Goods, Shipment and _________.

Question. The body which governs trade not only in goods, services and intellectual property rights between different countries ___________.

Question. In ___________ business buyers and sellers can be from different countries.

True / False:

Question.To facilitate the maximum use of the world’s resources for sustainable development is the major objective of World Trade Organization.

Question. General Agreement on Tariffs and Trade is a successor to World Trade organization. 

Question. A large number of domestic firms in India found it very difficult to compete in the world market.

Question. World Trade Organization was set up on 1st January 1995 replacing the General Agreement on Tariffs and Trade. 

Question. The Registration cum membership certificate is a document certifying that the exporter is a member of the export promotion council.

Question. Domestic markets are heterogeneous in nature.

Question. The basic objective of World Trade Organization and General Agreement on Tariffs and Trade are opposite to each other

Match the following:

Question. Match the following documents with the suitable category-

A	B
1. Export Invoice	(a) Document related to payment
2. Marine Insurance Policy	(b) Document related to goods
3. Bank Certificate of Payment	(c) Import Document
4. Dock Challan	(d) Document related to shipment

Question. With the organization with its objective

A	B
1. World Trade Organization	(a) to provide orderly international monetary system
2. General Agreement on Tariffs and Trade	(b) to provide finance to the private sector
3. World Bank	(c) facilitates international business and trade
4. International Monetary Fund	(d) to liberalize the world from high customs tariffs

Question. Match the establishment dates with the Organization

A	B
1. 1st Jan 1948	(a) World Trade Organization
2. 1944	(b) International Monetary Fund
3. 11th Dec. 2005	(c) General Agreement on Tariffs and Trade
4. International Monetary Fund	(d) World Bank

Question. Match the problems/objectives with its organisation:

A	B
1. To solve problems between two countries and providing for multilateral trade negotiations	(a) inception of the World Trade Org.
2. Helps fostering growth of developing countries by providing them with special and preferential treatment in trade related items	(b) Objectives World Trade Org.
3. Formed at the Bretton Woods Conference	(c) works on similar objectives
4. General Agreement on Tariffs and Trade And World Trade Org	(d) Benefits of World Trade Org

Question. Match the objectives with its organisation

A	B
1. Has a global status similar to that of International Monetary Fund and World Bank	(a) Is the successor of General Agreement on Tariffs and Trade
2. The objectives of General Agreement on Tariffs and Trade and World Trade Organization	(b) world Trade Organization
	(c) international monetary fund
	(d) international monetary fund

Question. Match the objectives with its organisation-

A	B
1. To ensure reduction of tariff and other barriers imposed by different countries	(a) objectives of world Trade Organization
2. To engage in such activities which improve the standard of living, create employment,increase income and effective demand and facilitate higher production and trade	(b) objectives of General Agreement on Tariffs and Trade.
	(c) Benefits of world Trade organisation
	(d) international monetary fund

Pictorial Questions:

Question. Identify Internatioanal bank which is responsible for Reconstruction and Development.

Question. Identify country where the headquarters of WTO is situated.

Question.  List the next 2 steps involved after the one mentioned below of one of the type of trade.
Trade Enquiry ⇒ Procurement of import license ⇒  (1)________ ⇒  (2)________ . 

Question. Identify the logo-,

Question. How is GATT associated with WTO

Question. Select the correct number of member countries registered with the World Trade Organisation.

Question. Identify the type of trade depicted I n the picture-